USDA forecasts $45.5 billion trade deficit for agriculture in 2025
The USDA’s latest forecast reveals a record $45.5 billion trade deficit for US agriculture in fiscal year 2025. This figure exceeds the $42.5 billion estimate made in August.
Exports are expected to reach $170 billion, up slightly from earlier forecasts but significantly lower than their 2022 peak. Imports are predicted to rise to $215.5 billion, driven by increasing demand for tropical fruits, sugar, and other products.
Global price declines have significantly impacted farmers, particularly those reliant on crops like cotton and soybeans. Livestock, dairy, corn, and sorghum exports have grown, but not enough to offset other losses.